Investing.com - The U.S. dollar dipped lower against the Swiss franc on Wednesday, as investors eyed the outcome of a meeting of Federal Reserve policy makers later in the day.
USD/CHF hit 0.9084 during European morning trade, the pair’s lowest since April 20; the pair subsequently consolidated at 0.9094, slipping 0.11%.
The pair was likely to find support at 0.9003, the low of April 3 and resistance at 0.9141, Tuesday’s high.
While the Fed was expected to reiterate its intent to keep U.S. interest rates near zero through late 2014, market participants were awaiting any indications that policymakers were leaning towards a fresh round of quantitative easing measures.
Data on Tuesday showed that U.S. home prices and consumer confidence came in weaker-than-expected, while U.S. home sales fell slightly less-than-expected.
But market sentiment remained supported following relatively successful euro zone bond auctions on Tuesday but investors remained wary amid ongoing concerns over risks from politically instability in the region, stemming from France and The Netherlands.
The Swissie was little changed against the euro, with EUR/CHF dipping 0.01% to hit 1.2015.
Later Wednesday, the U.S. was to publish government data on durable goods orders. The Federal Reserve’s interest rate announcement was to be followed by a press conference with Chairman Ben Bernanke.
USD/CHF hit 0.9084 during European morning trade, the pair’s lowest since April 20; the pair subsequently consolidated at 0.9094, slipping 0.11%.
The pair was likely to find support at 0.9003, the low of April 3 and resistance at 0.9141, Tuesday’s high.
While the Fed was expected to reiterate its intent to keep U.S. interest rates near zero through late 2014, market participants were awaiting any indications that policymakers were leaning towards a fresh round of quantitative easing measures.
Data on Tuesday showed that U.S. home prices and consumer confidence came in weaker-than-expected, while U.S. home sales fell slightly less-than-expected.
But market sentiment remained supported following relatively successful euro zone bond auctions on Tuesday but investors remained wary amid ongoing concerns over risks from politically instability in the region, stemming from France and The Netherlands.
The Swissie was little changed against the euro, with EUR/CHF dipping 0.01% to hit 1.2015.
Later Wednesday, the U.S. was to publish government data on durable goods orders. The Federal Reserve’s interest rate announcement was to be followed by a press conference with Chairman Ben Bernanke.